CIBC Provides $147.2M Construction Loan For Development Site In Chicago
FINANCED
$147,150,000
Illinois
See Similar DealsDevelopment Site
Financed 01/23/2023
FINANCED
CIBC Provides $147.2M Construction Loan For Development Site In Chicago
1200 West Roosevelt Road
See Similar DealsDevelopment Site
Financed 01/23/2023
Summary
ILLINOIS
Asset Type:Development Site
Transaction Type:Loan
The development site located at 1200 West Roosevelt Road in Chicago has recently secured a construction loan. The loan, provided by CIBC and BMO Harris, is worth $147,150,000. This financing will support the development of the property.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $147,150,000
- Lender: CIBC - Shawn Beber; BMO Harris
- Loan Type: Construction Loan
- Market: Chicago
- Date: 01/23/2023
The construction loan was facilitated by Shawn Beber, representing CIBC. Alongside CIBC, BMO Harris also participated in the loan. This financing will provide the necessary funds for the development of the property located at 1200 West Roosevelt Road in Chicago.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$147,150,000.00
Monthly NOI$981,000.00
Monthly Debt Service$930,088.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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